Air-Air Refuelling will be discussed in Madrid by Royal Netherlands Air Force Commander, JAPCC, European Defence Agency

Military Airlift leaders to discuss Air-Air Refuelling Capabilities this November in Madrid

LONDON, SELECT, UNITED KINGDOM, July 31, 2017 /EINPresswire.com/ — SMi is delighted to announce Air-Air Refuelling as an additional focus of the 18th Annual Military Airlift conference, gathering in Madrid, Spain on the 28th and 29th November 2017.

2017’s programme is now not only providing a unique focus on maximising airlift, but also aerial refuelling capabilities. Featuring presentations from a diverse pool of military officials and key industry organisations.

Military officials from Royal Netherlands Air Force, JAPCC, and European Defence Agency will gather at SMi Groups Military Airlift Conference to discuss Air-Air Refuelling (AAR) Capabilities.

Speaking about “Pioneering Multinational Air-Air Refuelling for coalition Operations,” Royal Netherlands Air Force Commander from Eindhoven Air Base, Colonel Elanor Boekholf-O’Sullivan will talk about bringing together nations to enhance individual and collective capability and deployment range. He will also discuss removing reliance on allied nations to provide fuelling support and how it will optimise Dutch capacity to deploy allies.

Lieutenant Colonel Edwin Markie, AAR SME, JAPCC will cover in his presentation the enhancement of joint training projects to ensure continued easy assimilation of national forces into a joint structure. Exploring the recent success of AAR Planning courses as well as the increase of developing interoperability of NATO air transport assets in a Joint Force Air Component scenario.

Dion Polman, Project Officer AAR, European Defence Agency will look at existing air tanker assets across the European fleet and the opportunities for development. Overseeing the current progress in developing AAR capabilities for the A400M and the increase of strategic air tanker capacity with the A330 MRTT.

The two-day conference will also provide unique networking opportunities and an exclusive post-conference complimentary site visit to Getafe Air Base for all attendees. Including an introduction about Airbus Spanish and Getafe sites, opportunity for delegates to see the A330 MRTT Conversion Centre, the training centre and the system integration laboratories. Transport will be provided to and from the conference hotel for this visit.

Other notable presenters include: Spanish Air Force, Airbus, Boeing, Royal Air Force, TLD Group, MCCE, JETEX Flight Support, Heavy Airlift Wing, ViaSat, NATO Support and Procurement Agency, French Air Force, US Air Force Europe, Volga Dnepr Group, NATO SHAPE and more.

The £200 early bird, booking discount expires Friday, September 29th 2017. To avoid disappointment, delegates are advised to register online, at: www.military-airlift.com/einpr

For information on also sponsoring or exhibiting at Military Airlift and Air-to-Air Refuelling this November, please contact Sadia Malick on +44 (0) 20 7827 6748 or email smalick@smi-online.co.uk

18th Annual Military Airlift and Air-To-Air Refuelling
Madrid, Spain
28th – 29th November 2017

—- END —-

About SMi Group:

Established since 1993, the SMi Group is a global event-production company that specializes in Business-to-Business Conferences, Workshops, Masterclasses and online Communities. We create and deliver events in the Defence, Security, Energy, Utilities, Finance and Pharmaceutical industries. We pride ourselves on having access to the world’s most forward-thinking opinion leaders and visionaries, allowing us to bring our communities together to Learn, Engage, Share and Network. More information can be found at http://www.smi-online.co.uk

Shannon Cargan
SMi Group
2078276138
email us here

Emergent BioSolutions Awarded $23 Million to Develop Novel Multi-Drug Auto-Injector for U.S. Department of Defense

GAITHERSBURG, Md., July 31, 2017 (GLOBE NEWSWIRE) — Emergent BioSolutions Inc. (NYSE:EBS) today announced that it has been awarded approximately $23 million to develop a novel multi-drug auto-injector for nerve agent antidote delivery. Emergent’s device is being designed for intramuscular self- or buddy-administration of antidotes for use in military environments and for civilian emergencies.
Adam Havey, executive vice president, business operations at Emergent BioSolutions, said, “Ease of use and rapid delivery of antidotes are critical features of auto-injectors that are intended to mitigate the health effects of nerve agent exposure. Emergent’s device seeks to satisfy the requirements of the Department of Defense for a novel auto-injector platform technology, and we look forward to collaborating with our development partners to meet the DoD’s needs.”Under the five-year agreement, awarded through the Medical CBRN Defense Consortium (MCDC), Emergent will develop a device, conduct studies to demonstrate consistent manufacture, functionality, and usability of the final device, and complete regulatory activities required to obtain approval of the product by the U.S. Food and Drug Administration (FDA).The MCDC was established by the Joint Project Manager for Medical Countermeasure Systems. It is a DoD initiative within the Joint Program Executive Office for Chemical and Biological Defense that provides U.S. military forces and the nation with safe, effective, and innovative medical solutions to counter chemical, biological, radiological, and nuclear threats.About Emergent BioSolutions
Emergent BioSolutions Inc. is a global life sciences company seeking to protect and enhance life by focusing on providing specialty products for civilian and military populations that address accidental, intentional, and naturally emerging public health threats. Through our work, we envision protecting and enhancing 50 million lives with our products by 2025. Additional information about the company may be found at emergentbiosolutions.com. Follow us @emergentbiosolu.
Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including statements regarding the potential uses, market opportunities and intention to seek FDA approval for the multi-drug auto-injector device and any other statements containing the words “believes,” “expects,” “anticipates,” “intends,” “plans,” “seeks,” “estimates” and similar expressions, are forward-looking statements. These forward-looking statements are based on our current intentions, beliefs and expectations regarding future events. We cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances.
There are a number of important factors that could cause the company’s actual results to differ materially from those indicated by such forward-looking statements, including our ability to develop and manufacture a product satisfying the DoD’s requirements; our reliance on a third party to manufacture and supply the product; the ability of our third-party supplier to maintain compliance with current Good Manufacturing Practices and other regulatory obligations; the success of our efforts to pursue FDA approval of the product; and the success of our commercialization and marketing capabilities and strategy. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the SEC, when evaluating our forward-looking statements.Investor Contact:
Robert G. Burrows
Vice President, Investor Relations
240-631-3280
BurrowsR@ebsi.com

Media Contact:
Lynn Kieffer
Vice President, Corporate Communications
240-631-3391
KiefferL@ebsi.com

Credit Acceptance Announces Second Quarter 2017 Earnings

Southfield, Michigan, July 31, 2017 (GLOBE NEWSWIRE) — Credit Acceptance Corporation (NASDAQ: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today announced consolidated net income of $99.1 million, or $5.09 per diluted share, for the three months ended June 30, 2017 compared to consolidated net income of $84.9 million, or $4.17 per diluted share, for the same period in 2016. For the six months ended June 30, 2017, consolidated net income was $192.4 million, or $9.81 per diluted share, compared to consolidated net income of $159.3 million, or $7.80 per diluted share, for the same period in 2016.Adjusted net income, a non-GAAP financial measure, for the three months ended June 30, 2017 was $101.6 million, or $5.22 per diluted share, compared to $89.2 million, or $4.38 per diluted share, for the same period in 2016. For the six months ended June 30, 2017, adjusted net income was $193.9 million, or $9.88 per diluted share, compared to adjusted net income of $171.5 million, or $8.39 per diluted share, for the same period in 2016.Webcast DetailsWe will host a webcast on July 31, 2017 at 5:00 p.m. Eastern Time to answer questions related to our second quarter results.  The webcast can be accessed live by visiting the “Investor Relations” section of our website at creditacceptance.com or by dialing 877-303-2904.  Additionally, a replay and transcript of the webcast will be archived in the “Investor Relations” section of our website.
Consumer Loan MetricsDealers assign retail installment contracts (referred to as “Consumer Loans”) to Credit Acceptance. At the time a Consumer Loan is submitted to us for assignment, we forecast future expected cash flows from the Consumer Loan. Based on the amount and timing of these forecasts and expected expense levels, an advance or one-time purchase payment is made to the related dealer at a price designed to maximize economic profit, a non-GAAP financial measure that considers our return on capital, our cost of capital and the amount of capital invested.We use a statistical model to estimate the expected collection rate for each Consumer Loan at the time of assignment. We continue to evaluate the expected collection rate of each Consumer Loan subsequent to assignment. Our evaluation becomes more accurate as the Consumer Loans age, as we use actual performance data in our forecast. By comparing our current expected collection rate for each Consumer Loan with the rate we projected at the time of assignment, we are able to assess the accuracy of our initial forecast. The following table compares our forecast of Consumer Loan collection rates as of June 30, 2017, with the forecasts as of March 31, 2017, December 31, 2016 and at the time of assignment, segmented by year of assignment:(1)   Represents the total forecasted collections we expect to collect on the Consumer Loans as a percentage of the repayments that we were contractually owed on the Consumer Loans at the time of assignment.  Contractual repayments include both principal and interest. Forecasted collection rates are negatively impacted by canceled Consumer Loans as the contractual amount owed is not removed from the denominator for purposes of computing forecasted collection rates in the table.
(2)   The forecasted collection rate for 2017 Consumer Loans as of June 30, 2017 includes both Consumer Loans that were in our portfolio as of March 31, 2017 and Consumer Loans assigned during the most recent quarter. The following table provides forecasted collection rates for each of these segments:
Consumer Loans assigned in 2009 through 2013 and 2017 have yielded forecasted collection results materially better than our initial estimates, while Consumer Loans assigned in 2015 have yielded forecasted collection results materially worse than our initial estimates. For Consumer Loans assigned in 2008, 2014 and 2016, actual results have been close to our initial estimates. For the three months ended June 30, 2017, forecasted collection rates improved for Consumer Loans assigned in 2017, declined for Consumer Loans assigned in 2016 and were generally consistent with expectations at the start of the period for all other assignment years presented. For the six months ended June 30, 2017, forecasted collection rates improved for Consumer Loans assigned in 2017, declined for Consumer Loans assigned in 2015 and were generally consistent with expectations at the start of the period for all other assignment years presented.The changes in forecasted collection rates for the three and six months ended June 30, 2017 and 2016 impacted forecasted net cash flows (forecasted collections less forecasted dealer holdback payments) as follows:The following table presents information on the average Consumer Loan assignment for each of the last 10 years:(1)     Represents the repayments that we were contractually owed on Consumer Loans at the time of assignment, which include both principal and interest.(2)     Represents advances paid to dealers on Consumer Loans assigned under our portfolio program and one-time payments made to dealers to purchase Consumer Loans assigned under our purchase program.  Payments of dealer holdback and accelerated dealer holdback are not included.(3)     The averages for 2017 Consumer Loans include both Consumer Loans that were in our portfolio as of March 31, 2017 and Consumer Loans assigned during the most recent quarter. The following table provides averages for each of these segments:Forecasting collection rates accurately at loan inception is difficult.  With this in mind, we establish advance rates that are intended to allow us to achieve acceptable levels of profitability, even if collection rates are less than we initially forecast.The following table presents forecasted Consumer Loan collection rates, advance rates, the spread (the forecasted collection rate less the advance rate), and the percentage of the forecasted collections that had been realized as of June 30, 2017.  All amounts, unless otherwise noted, are presented as a percentage of the initial balance of the Consumer Loan (principal + interest).  The table includes both dealer loans and purchased loans.(1)   Represents advances paid to dealers on Consumer Loans assigned under our portfolio program and one-time payments made to dealers to purchase Consumer Loans assigned under our purchase program as a percentage of the initial balance of the Consumer Loans.  Payments of dealer holdback and accelerated dealer holdback are not included.(2)   Presented as a percentage of total forecasted collections.(3)   The forecasted collection rate, advance rate and spread for 2017 Consumer Loans as of June 30, 2017 include both Consumer Loans that were in our portfolio as of March 31, 2017 and Consumer Loans assigned during the most recent quarter. The following table provides forecasted collection rates, advance rates and spreads for each of these segments:The risk of a material change in our forecasted collection rate declines as the Consumer Loans age.  For 2013 and prior Consumer Loan assignments, the risk of a material forecast variance is modest, as we have currently realized in excess of 90% of the expected collections.  Conversely, the forecasted collection rates for more recent Consumer Loan assignments are less certain as a significant portion of our forecast has not been realized.The spread between the forecasted collection rate and the advance rate has ranged from 21.2% to 35.6% over the last 10 years. The spread was at the high end of this range in 2009 and 2010, when the competitive environment was unusually favorable, and much lower during other years (2014 through 2017) when competition was more intense. The decline in the advance rate from 2016 to 2017 reflects the lower initial forecast on Consumer Loan assignments received in 2017, partially offset by an increase in purchased loans as a percentage of total unit volume. The increase in the spread from 2016 to 2017 was the result of the performance of 2017 Consumer Loans, which has materially exceeded our initial estimates, partially offset by a change in the mix of Consumer Loan assignments received during 2017, including an increase in purchased loans as a percentage of total unit volume.The increase in the advance rate from the first quarter of 2017 to the second quarter of 2017 reflects the higher initial forecast on Consumer Loan assignments received during the second quarter of 2017 and an increase in purchased loans as a percentage of total unit volume. The decline in the spread from the first quarter of 2017 to the second quarter of 2017 was the result of the performance of Consumer Loans assigned during the first quarter of 2017, which has exceeded our initial estimates by a greater margin than those assigned to us during the second quarter of 2017.
The following table compares our forecast of Consumer Loan collection rates as of June 30, 2017 with the forecasts at the time of assignment, for dealer loans and purchased loans separately:The following table presents forecasted Consumer Loan collection rates, advance rates, and the spread (the forecasted collection rate less the advance rate) as of June 30, 2017 for dealer loans and purchased loans separately.  All amounts are presented as a percentage of the initial balance of the Consumer Loan (principal + interest).(1)   The forecasted collection rates and advance rates presented for each Consumer Loan assignment year change over time due to the impact of transfers between dealer and purchased loans.  Under our portfolio program, certain events may result in dealers forfeiting their rights to dealer holdback.  We transfer the dealer’s Consumer Loans from the dealer loan portfolio to the purchased loan portfolio in the period this forfeiture occurs.(2)   Represents advances paid to dealers on Consumer Loans assigned under our portfolio program and one-time payments made to dealers to purchase Consumer Loans assigned under our purchase program as a percentage of the initial balance of the Consumer Loans.  Payments of dealer holdback and accelerated dealer holdback are not included.Although the advance rate on purchased loans is higher as compared to the advance rate on dealer loans, purchased loans do not require us to pay dealer holdback.The spread on dealer loans increased from 22.0% in 2016 to 23.0% in 2017 as a result of the performance of 2017 Consumer Loans in our dealer loan portfolio, which has exceeded our initial estimates, while those assigned to us in 2016 have declined from our initial estimates, partially offset by a change in the mix of Consumer Loan assignments.The spread on purchased loans increased from 19.3% in 2016 to 20.6% in 2017 primarily as a result of the performance of 2017 Consumer Loans in our purchased loan portfolio, which has exceeded our initial estimates by a greater margin than those assigned to us in 2016, partially offset by a change in the mix of Consumer Loan assignments.
Consumer Loan VolumeThe following table summarizes changes in Consumer Loan assignment volume in each of the last six quarters as compared to the same period in the previous year:(1)   Represents advances paid to dealers on Consumer Loans assigned under our portfolio program and one-time payments made to dealers to purchase Consumer Loans assigned under our purchase program.  Payments of dealer holdback and accelerated dealer holdback are not included.Consumer Loan assignment volumes depend on a number of factors including (1) the overall demand for our financing programs, (2) the amount of capital available to fund new loans, and (3) our assessment of the volume that our infrastructure can support.  Our pricing strategy is intended to maximize the amount of economic profit we generate, within the confines of capital and infrastructure constraints.Unit and dollar volumes grew 1.0% and 7.1%, respectively, during the second quarter of 2017 as the number of active dealers grew 6.3% while average volume per active dealer declined 5.6%. Dollar volume grew faster than unit volume during the second quarter of 2017 due to an increase in the average advance paid per unit. This increase was the result of an increase in the average size of the Consumer Loans assigned primarily due to an increase in the average initial loan term and an increase in purchased loans as a percentage of total unit volume, partially offset by a decrease in the average advance rate due to a decrease in the average initial forecast of the Consumer Loans assigned.While we were able to grow unit volume modestly during the most recent quarter after two quarters of declines, our overall progress in growing unit volumes has slowed considerably over the last six quarters. This trend reflects the difficulty of growing the number of active dealers fast enough to offset the impact of the competitive environment on attrition and per dealer volumes. In addition, in response to the decline in forecasted collection rates experienced in 2016, we adjusted our initial collection forecasts downward during 2016. While the adjustments have been modest, we believe these adjustments have had an adverse impact on unit volumes.The following table summarizes the changes in Consumer Loan unit volume and active dealers:(1)   Active dealers are dealers who have received funding for at least one Consumer Loan during the period.The following table provides additional information on the changes in Consumer Loan unit volume and active dealers:(1)   New active dealers are dealers who enrolled in our program and have received funding for their first dealer loan or purchased loan from us during the period.(2)   Attrition is measured according to the following formula:  decrease in Consumer Loan unit volume from dealers who have received funding for at least one dealer loan or purchased loan during the comparable period of the prior year but did not receive funding for any dealer loans or purchased loans during the current period divided by prior year comparable period Consumer Loan unit volume.
The following table shows the percentage of Consumer Loans assigned to us as dealer loans and purchased loans for each of the last six quarters:(1)   Represents advances paid to dealers on Consumer Loans assigned under our portfolio program and one-time payments made to dealers to purchase Consumer Loans assigned under our purchase program.  Payments of dealer holdback and accelerated dealer holdback are not included.As of June 30, 2017 and December 31, 2016, the net dealer loans receivable balance was 71.2% and 74.6%, respectively, of the total net loans receivable balance.Financial ResultsThe increase in GAAP net income for the three months ended June 30, 2017, as compared to the same period in 2016, was primarily the result of the following:An increase in finance charges of 17.0% ($36.6 million) primarily due to growth in our loan portfolio.An increase in provision for income taxes of 16.5% ($8.2 million) due to an increase in pre-tax income.An increase in operating expenses of 11.9% ($6.5 million) due to:An increase in salaries and wages expense of $2.6 million, or 8.6%, primarily related to our servicing function as a result of an increase in the number of team members.An increase in sales and marketing expense of $2.5 million, or 21.0%, primarily due to an increase in the size of our sales force.An increase in general and administrative expense of $1.4 million, or 11.1%, primarily as a result of an increase in legal fees.An increase in interest expense of 23.0% ($5.6 million) primarily due to an increase in the average outstanding debt balance due to debt proceeds used to fund the growth in Consumer Loan assignment volume and stock repurchases.An increase in provision for credit losses of 21.8% ($3.9 million) primarily due to the performance of certain loan pools. While overall Consumer Loan performance improved from the prior year, declines in the performance of certain individual loan pools resulted in an increase in provision for credit losses.The increase in GAAP net income for the six months ended June 30, 2017, as compared to the same period in 2016, was primarily the result of the following:An increase in finance charges of 17.2% ($71.8 million) primarily due to growth in our loan portfolio.An increase in provision for income taxes of 16.1% ($15.1 million) due to an increase in pre-tax income, partially offset by a decrease in the effective tax rate of 80 basis points. The decrease in the effective tax rate was primarily due to the adoption of new accounting guidance on January 1, 2017, which reduced the current year provision for income taxes by $2.5 million for tax benefits related to our stock-based compensation plans.An increase in operating expenses of 11.1% ($12.5 million) due to:An increase in salaries and wages expense of $5.4 million, or 8.6%, primarily related to our servicing function as a result of an increase in the number of team members.An increase in sales and marketing expense of $3.9 million, or 15.2%, primarily due to an increase in the size of our sales force.An increase in general and administrative expense of $3.2 million, or 13.0%, primarily as a result of an increase in legal fees.An increase in interest expense of 23.9% ($11.1 million) primarily due to an increase in the average outstanding debt balance due to debt proceeds used to fund the growth in Consumer Loan assignment volume and stock repurchases.Adjusted financial results are provided to help shareholders understand our financial performance.  The financial data below is non-GAAP, unless labeled otherwise.  We use adjusted financial information internally to measure financial performance and to determine incentive compensation.  The table below shows our results following adjustments to reflect non-GAAP accounting methods.  Material adjustments are explained in the table footnotes and the subsequent “Floating Yield Adjustment” and “Senior Notes Adjustment” sections.  Measures such as adjusted average capital, adjusted net income, adjusted net income per diluted share, adjusted net income plus interest expense after-tax, adjusted return on capital, adjusted revenue, operating expenses, and economic profit are all non-GAAP financial measures.  These non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our reported results prepared in accordance with GAAP.Adjusted financial results for the three and six months ended June 30, 2017, compared to the same periods in 2016, include the following:Economic profit increased 9.6% and 6.6% for the three and six months ended June 30, 2017, as compared to the same periods in 2016.  Economic profit is a function of the return on capital in excess of the cost of capital and the amount of capital invested in the business.  The following table summarizes the impact each of these components had on the increase in economic profit for the three and six months ended June 30, 2017, as compared to the same periods in 2016:
The increase in economic profit for the three months ended June 30, 2017, as compared to the same period in 2016, was primarily the result of the following:An increase in adjusted average capital of 18.5% due to growth in our loan portfolio primarily as a result of year-over-year growth in Consumer Loan assignment volume in recent years.A decrease in our adjusted return on capital of 40 basis points primarily as a result of the following:A decline in the yield on our loan portfolio decreased the adjusted return on capital by 50 basis points due to lower yields on more recent Consumer Loan assignments and a decline in Consumer Loan performance throughout 2016.Slower growth in operating expenses increased the adjusted return on capital by 20 basis points as operating expenses grew 11.9% while adjusted average capital grew 18.5%.The increase in economic profit for the six months ended June 30, 2017, as compared to the same period in 2016, was primarily the result of the following:An increase in adjusted average capital of 21.4% due to growth in our loan portfolio primarily as a result of year-over-year growth in Consumer Loan assignment volume in recent years.A decrease in our adjusted return on capital of 70 basis points primarily as a result of the following:A decline in the yield on our loan portfolio decreased the adjusted return on capital by 90 basis points due to lower yields on more recent Consumer Loan assignments and a decline in Consumer Loan performance throughout 2016.Slower growth in operating expenses increased the adjusted return on capital by 30 basis points as operating expenses grew 11.1% while adjusted average capital grew 21.4%.The following table shows adjusted revenue and operating expenses as a percentage of adjusted average capital, the adjusted return on capital, and the percentage change in adjusted average capital for each of the last eight quarters, compared to the same period in the prior year:(1)   Annualized.The decrease in operating expenses as a percentage of adjusted average capital for the three months ended June 30, 2017, as compared to the three months ended March 31, 2017, was due to a decrease in operating expenses of $3.4 million, or 5.3%, primarily related to:A decrease in salaries and wages expense of $2.8 million, or 7.9%, which decreased operating expenses as a percentage of adjusted average capital by 40 basis points, primarily as a result of the following:A decrease of $1.7 million in cash-based incentive compensation expense primarily due to a decline in Company performance measures.A decrease of $1.0 million in payroll taxes as a result of the seasonal impact of both taxes that are subject to income limitations and the taxes on the annual vesting of stock awards during the first quarter of the year.A decrease in sales and marketing expense of $0.7 million, or 4.6%, which decreased operating expenses as a percentage of adjusted average capital by 10 basis points, primarily as a result of a decrease in sales commissions driven by lower Consumer Loan assignment volume related to seasonality.The increase in our adjusted return on capital of 40 basis points for the three months ended June 30, 2017, as compared to the three months ended March 31, 2017, was the result of a decrease in operating expenses of 5.3% and an increase in adjusted average capital of 5.3%.
The following tables provide a reconciliation of non-GAAP measures to GAAP measures.  All after-tax adjustments are calculated using a 37% tax rate as we estimate that to be our long term average effective tax rate.  Certain amounts do not recalculate due to rounding.
(1)   Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share information may not equal year-to-date net income per share.(2)       Amounts in prior year periods have been reclassified to reflect the adoption of Accounting Standards Update (“ASU”) 2015-03, as amended by ASU 2015-15, which resulted in a reclassification of certain deferred debt issuance costs from other assets to GAAP average debt.(3)   The deferred debt issuance adjustment reverses the impact of the reclassification of deferred debt issuance costs from other assets to GAAP average debt as a result of the adoption of ASU 2015-03, as amended by ASU 2015-05. The net effect of this adjustment is to report adjusted average capital on the same basis as reported in our historical press releases.(4)   Annualized.
(1)   Calculated by dividing GAAP net income by GAAP average shareholders’ equity.(2)   Adjusted return on capital is defined as adjusted net income plus adjusted interest expense (after-tax) divided by adjusted average capital.(3)   The cost of capital includes both a cost of equity and a cost of debt.  The cost of equity capital is determined based on a formula that considers the risk of the business and the risk associated with our use of debt.  The formula utilized for determining the cost of equity capital is as follows: (the average 30-year treasury rate + 5%) + [(1 – tax rate) x (the average 30-year treasury rate + 5% – pre-tax average cost of debt rate) x average debt/(average equity + average debt x tax rate)].  For the periods presented, the average 30-year treasury rate and the adjusted pre-tax average cost of debt were as follows:(4)   Annualized.
(1)  Calculated by dividing GAAP net income by GAAP average shareholders’ equity.(2)   Adjusted return on capital is defined as adjusted net income plus adjusted interest expense after-tax divided by adjusted average capital.(3)   The cost of capital includes both a cost of equity and a cost of debt.  The cost of equity capital is determined based on a formula that considers the risk of the business and the risk associated with our use of debt.  The formula utilized for determining the cost of equity capital is as follows: (the average 30 year treasury rate + 5%) + [(1 – tax rate) x (the average 30 year treasury rate + 5% – pre-tax average cost of debt rate) x average debt/(average equity + average debt x tax rate)].  For the periods presented, the average 30 year treasury rate and the adjusted pre-tax average cost of debt were as follows:(4)   Annualized.
Floating Yield AdjustmentThe purpose of this non-GAAP adjustment is to modify the calculation of our GAAP-based finance charge revenue so that favorable and unfavorable changes in expected cash flows from loans receivable are treated consistently.  To make the adjustment understandable, we must first explain how GAAP requires us to account for finance charge revenue, our primary revenue source.The finance charge revenue we will recognize over the life of the loan equals the cash inflows from our loan portfolio less cash outflows to acquire the loans.  Our GAAP finance charge revenue is based on estimates of future cash flows and is recognized on a level-yield basis over the estimated life of the loan.  With the level-yield approach, the amount of finance charge revenue recognized from a loan in a given period, divided by the loan asset, is a constant percentage.  Under GAAP, favorable changes in expected cash flows are treated as increases to the yield and are recognized over time, while unfavorable changes are recorded as a current period expense.  The non-GAAP methodology that we use (the “floating yield” method) is identical to the GAAP approach except that, under the “floating yield” method, all changes in expected cash flows (both positive and negative) are treated as yield adjustments and therefore impact earnings over time.  The GAAP treatment results in a lower carrying value of the loan receivable asset, but may result in either higher or lower earnings for any given period depending on the timing and amount of expected cash flow changes.We believe the floating yield adjustment provides a more accurate reflection of the performance of our business, since both favorable and unfavorable changes in estimated cash flows are treated consistently.Senior Notes AdjustmentOn January 22, 2014, we issued $300.0 million of 6.125% senior notes due 2021 (the “2021 notes”) in a private offering exempt from registration under the Securities Act of 1933. On February 21, 2014, we used the net proceeds from the 2021 notes, together with borrowings under our revolving credit facilities, to redeem in full the $350.0 million outstanding principal amount of our 9.125% senior notes due 2017 (the “2017 notes”). The purpose of this non-GAAP adjustment is to modify our GAAP financial results to treat the issuance of the 2021 notes as a refinancing of the 2017 notes.Under GAAP, the redemption of the 2017 notes in the first quarter of 2014 required us to recognize a pre-tax loss on extinguishment of debt of $21.8 million. Under our non-GAAP approach, the loss on extinguishment of debt and additional interest expense that was recognized for GAAP purposes for the quarter ended March 31, 2014 was deferred as a debt issuance cost and is being recognized ratably as interest expense over the term of the 2021 notes. In addition, for adjusted average capital purposes, the impact of additional outstanding debt related to the one month lag from the issuance of the 2021 notes to the redemption of the 2017 notes was deferred and is being recognized ratably over the term of the 2021 notes.We believe the senior notes adjustment provides a more accurate reflection of the performance of our business, since we are recognizing the costs incurred with this transaction in a manner consistent with how we recognize the costs incurred when we periodically refinance our other debt facilities.Cautionary Statement Regarding Forward-Looking InformationWe claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of our forward-looking statements.  Statements in this release that are not historical facts, such as those using terms like “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “assume,” “forecast,” “estimate,” “intend,” “plan,” “target” and those regarding our future results, plans and objectives, are “forward-looking statements” within the meaning of the federal securities laws.  These forward-looking statements represent our outlook only as of the date of this release.  Actual results could differ materially from these forward-looking statements since the statements are based on our current expectations, which are subject to risks and uncertainties.  Factors that might cause such a difference include, but are not limited to, the factors set forth in Item 1A of our Form 10-K for the year ended December 31, 2016, filed with the Securities and Exchange Commission on February 10, 2017, other risk factors discussed herein or listed from time to time in our reports filed with the Securities and Exchange Commission and the following:Our inability to accurately forecast and estimate the amount and timing of future collections could have a material adverse effect on results of operations.We may be unable to execute our business strategy due to current economic conditions.We may be unable to continue to access or renew funding sources and obtain capital needed to maintain and grow our business.The terms of our debt limit how we conduct our business.A violation of the terms of our asset-backed secured financing facilities or revolving secured warehouse facilities could have a material adverse impact on our operations.The conditions of the U.S. and international capital markets may adversely affect lenders with which we have relationships, causing us to incur additional costs and reducing our sources of liquidity, which may adversely affect our financial position, liquidity and results of operations.Our substantial debt could negatively impact our business, prevent us from satisfying our debt obligations and adversely affect our financial condition.Due to competition from traditional financing sources and non-traditional lenders, we may not be able to compete successfully.We may not be able to generate sufficient cash flows to service our outstanding debt and fund operations and may be forced to take other actions to satisfy our obligations under such debt.Interest rate fluctuations may adversely affect our borrowing costs, profitability and liquidity.Reduction in our credit rating could increase the cost of our funding from, and restrict our access to, the capital markets and adversely affect our liquidity, financial condition and results of operations.We may incur substantially more debt and other liabilities.  This could exacerbate further the risks associated with our current debt levels.The regulation to which we are or may become subject could result in a material adverse effect on our business.Adverse changes in economic conditions, the automobile or finance industries, or the non-prime consumer market could adversely affect our financial position, liquidity and results of operations, the ability of key vendors that we depend on to supply us with services, and our ability to enter into future financing transactions.Litigation we are involved in from time to time may adversely affect our financial condition, results of operations and cash flows.Changes in tax laws and the resolution of uncertain income tax matters could have a material adverse effect on our results of operations and cash flows from operations.Our dependence on technology could have a material adverse effect on our business.Our use of electronic contracts could impact our ability to perfect our ownership or security interest in Consumer Loans.Reliance on third parties to administer our ancillary product offerings could adversely affect our business and financial results.We are dependent on our senior management and the loss of any of these individuals or an inability to hire additional team members could adversely affect our ability to operate profitably.Our reputation is a key asset to our business, and our business may be affected by how we are perceived in the marketplace.The concentration of our dealers in several states could adversely affect us.Failure to properly safeguard confidential consumer and team member information could subject us to liability, decrease our profitability and damage our reputation.A small number of our shareholders have the ability to significantly influence matters requiring shareholder approval and such shareholders have interests which may conflict with the interests of our other security holders.Reliance on our outsourced business functions could adversely affect our business.Our ability to hire and retain foreign information technology personnel could be hindered by immigration restrictions.Natural disasters, acts of war, terrorist attacks and threats or the escalation of military activity in response to these attacks or otherwise may negatively affect our business, financial condition and results of operations.Other factors not currently anticipated by management may also materially and adversely affect our business, financial condition and results of operations.  We do not undertake, and expressly disclaim any obligation, to update or alter our statements whether as a result of new information, future events or otherwise, except as required by applicable law.Description of Credit Acceptance CorporationSince 1972, Credit Acceptance has offered financing programs that enable automobile dealers to sell vehicles to consumers, regardless of their credit history.  Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing.Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones.  Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the NASDAQ under the symbol CACC.  For more information, visit creditacceptance.com.
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Remarks by the Vice President to Enhanced Forward Presence and Estonian Troops

Estonia Defense Force Headquarters Tallinn, Estonia

THE VICE PRESIDENT:  President Kaljulaid, President Vējonis, and President Grybauskaitė, General Terras, Colonel Ridland, members of the Armed Forces of the United States of America, members of the armed forces of Estonia, the United Kingdom, and France — it is my great honor to be here at the Defense Forces Headquarters of the great nation of Estonia.   And to all of you, I bring greetings from the leader of the free world, the President of the United States of America –President Donald Trump.   The President personally sent me here — to this place, at this time, to thank all of you who have stood up and stepped forward to protect this alliance, to protect our values, and to stand in the gap for our of way of life.    Before me today is the Enhanced Forward Presence, the embodiment of the NATO Alliance — free peoples from free nations, standing together as brothers and sisters in arms.   The Good Book tells us, “if you owe debts pay debts, if honor, then honor, if respect, then respect.”   And I stand before you today to pay a debt of gratitude, honor, and respect to each one of you on behalf of the President of the United States of America and the American people.    You are the best of us, heroes all.   And you are here, including the Americans among you so far away from home, because the United States and Europe are bound together by history, a time-honored alliance, and the abiding oath of friendship — and most of all, we are bound together in our devotion to freedom.   Under President Trump, the policy of the United States of America is to place the security and the prosperity of America first.  But as the President has made clear, and as my presence here today demonstrates, America First does not mean America alone.    In my meeting earlier today with the leaders of the Baltic States, I gave them the same message that I am here to deliver to each and every one of you:  The United States is with you.  America stands with the nations and people of the Baltic States — and we always will.   We stand with our NATO allies in our commitment to your security.    And under President Trump, the United States of America stands in defense of the timeless values that unite America and Europe together in the West — freedom, democracy, and the rule of law.   As the President expressed in his historic speech in Warsaw, Poland just last month, these values are in his words “the priceless ties that bind us together as nations, as allies, and as a civilization.”   Western civilization is a beautiful mosaic of diverse, free nations and peoples — each with their own unique and special histories, cultures, languages and traditions — all of which deserve to be recognized, cherished and protected.   And Estonia, Latvia, and Lithuania are sterling examples of our civilization’s vitality and commitment to freedom.   Next year marks the 100th anniversary of the birth of freedom in the Baltic States.  You’ve clung to that birthright ever since — even in the face of those who would take it from you.   For the better part of this last century, your nations were locked behind the Iron Curtain.  That communist regime personified everything free peoples reject.  It sought to eradicate your identity, your traditions, your language, the very essence of who you are — the cherished ties of family and faith.   But through all the decades of brutal occupation, I’m proud to say the United States of America never accepted the illegitimate claims of the Soviet Union on your three Baltic States.  Your perseverance inspired free nations around the world, and it was our honor to stand with you.   It is no coincidence or accident of history that it was right here in Tallinn that some of the very first cracks in the Iron Curtain first appeared.   You had preserved your memory of the past as the foundation of your future — you kept the flame of freedom alive in your hearts.   It was only 30 years ago that more than 300,000 Estonians began to gather together to sing the songs of your land and your people — as in the days of Hezekiah, the “singers sang.”  And soon your culture and nation were renewed.  Shortly thereafter, your brothers and sisters in Latvia and Lithuania joined the chorus of a Singing Revolution.   And in 1989, you joined hands in the Baltic Way — an unbroken line of unbroken will — connecting Tallinn, Riga, and Vilnius.  So strong were your voices, so firm was your grip that the Soviet Union crumbled before you, and you reclaimed your freedom from the ashes of communism.   And since that day, the people of Estonia, Latvia, and Lithuania, have reached out your hands in friendship to Europe and to the United States — and today, together, we stand as one.   The United States and Europe are stronger together than we will ever be apart; and so it was, only 13 years ago, that we welcomed the Baltic States into the North Atlantic Treaty Organization, the most successful mutual-defense alliance in the history of the world.   The Baltic States embody the spirit of our alliance; your commitment to NATO’s common defense inspires us all.   At the Wales Summit in 2014, every NATO member committed to move toward spending a minimum of 2 percent of their gross domestic product on defense within a decade.    President Trump has made it clear that every NATO member must in his words “finally contribute their fair share and meet their financial obligations.”   At this moment, I am proud to stand in the heart of one of only five NATO member nations that meets this basic standard. Estonia joins the United States, the United Kingdom, Greece, and Poland in meeting or exceeding their obligation for our common defense.  And I’m happy to report that by the end of 2018, Latvia and Lithuania will join these nations in fulfilling their promise — and President Trump expects all of our NATO allies to follow your lead.   The President and I are grateful for the leadership and the example of the Baltic leaders gathered here.  And to Estonia in particular, as your presidency of the Council of the European Union, know that you have the United States’ full support in your call for stronger internal security in Europe, stronger external borders, a more robust partnership between the EU and NATO, and increased European defense spending.    At the heart of our alliance is the solemn promise that an attack on one is an attack on all.  But this oath requires action — and every NATO member must renew their commitment to our common defense — and they must renew it now.   A strong and united NATO is needed more today than at any point since the collapse of Communism a quarter-century ago.  The adversaries we face are more numerous and sophisticated and asymmetrical than ever before.   In this age, once-distant threats have become local threats to nations and communities across the world — and so all free nations must band together to confront and overcome them.   As we speak, our alliance is taking the fight to radical Islamic terrorism on our terms, on their soil — and we will not rest and we will not relent until we hunt down and destroy ISIS at its source — so it can no longer threaten our people, our allies, or our sacred gift of freedom.   The Baltic States are members of the Global Campaign to Defeat ISIS, and the United States and our people are grateful for your action.   And all three of your nations are participating in NATO’s Resolute Support mission in Afghanistan, where our citizens have served together and sacrificed for many years.   The people of the United States mourn the Estonian, Latvian, and Lithuanian citizens who have given their lives in the cause of freedom.  They are heroes, and their names will always be enshrined in the hearts of the American people.   But terrorism is not the only adversary we face.  Just last week, our alliance and all the world saw the grave and growing threat posed by the missile capabilities of dangerous regimes in North Korea and Iran.   Both regimes conducted provocative launches over a 24-hour span.  Their actions have brought them closer to threatening our partners in their regions, our transatlantic alliance, and the American homeland itself.   In these times of widening threats and provocations, we will stand together in defense of our alliance and all we hold dear.  We all have a vital role to play — for all nations in this alliance loom large in the tapestry of freedom.  America has no small allies.   Today we stand where East meets West, on a great frontier of freedom.  And no threat looms larger in the Baltic States than the specter of aggression from your unpredictable neighbor to the east.   At this very moment, Russia continues to seek to redraw international borders by force, undermine the democracies of sovereign nations, and divide the free nations of Europe one against another.   President Trump has called on Russia to cease its destabilizing activities in Ukraine and elsewhere and to cease its support for hostile regimes like North Korea and Iran.   And under President Trump, the United States will continue to hold Russia accountable for its actions — and we call on our European allies and friends to do the same.   In a sign of our commitment, very soon, President Trump will sign legislation to strengthen and codify the United States’ sanctions against Russia.   The preference of the United States is a constructive relationship with Russia based on cooperation on common interests.  Russia, too, has said that they would like to normalize relations with the United States.  Regrettably, last week Russia took the drastic step of limiting the United States’ diplomatic presence in their nation.   President Trump has made it clear:  America is open to a better relationship with Russia.  But the President and our Congress are unified in our message:  A better relationship and the lifting of sanctions will require Russia to reverse the actions that caused sanctions to be imposed in the first place.   We hope for better days and better relations with Russia, but as I said earlier today, recent diplomatic actions taken by Moscow will not deter the commitment of the United States to our security, that of our allies, and to freedom-loving nations around the world.    Be assured:  The United States rejects any attempt to use force, threats, intimidation, or malign influence in the Baltic States or against any of our treaty allies — and under President Donald Trump, the United States of America will stand firmly behind our Article 5 pledge of mutual defense — and the presence of the U.S Armed Forces here today proves it.   As the President said in Poland, we have demonstrated our commitment to the common defense not with mere words, as he said, “but with actions.”   Simply look at the United States’ leadership role in the Enhanced Forward Presence initiative, the one that brings us here today.   The Enhanced Forward Presence is the largest reinforcement of our alliance’s collective defense in a generation.    Here, United Kingdom and French troops stand shoulder-to-shoulder with Estonian forces.  To the South, in Latvia and Lithuania, Germany and Canada have taken on leadership roles in additional battlegroups.  And the United States proudly leads the combat-ready battlegroup stationed nearby in Poland.   But the United States’ commitment does not rest solely with this initiative.  We have deployed a full armored brigade combat team to Central and Eastern Europe through the European Reassurance Initiative.   And American forces throughout the region are conducting visible exercises with our allies and partners, such as BALTOPS and Saber Strike.    Our actions firmly demonstrate our unwavering resolve — and they enhance our alliance’s ability to stand firmly for freedom and face any scenario.   Under the leadership of President Trump, the United States will make the strongest fighting force in the history of the world even stronger.  As the President said only a few days ago, “American might is second to none — and we’re getting bigger, and better, and stronger every day.”  And the world knows it.   The President has already signed the largest increase in military spending in nearly a decade.  And we’ve called on Congress to pass one of the largest investments in defense spending since the days of the Cold War.   And so today, the United States calls on all our allies, and all who cherish freedom, to rededicate themselves to strengthening our alliance and our commitment to this cause.  We must, all of us, be strong in arms.  We must, all of us, be strong in our resolve.  But most of all, we must be strong in our conviction that our cause is just and that freedom at the heart of our way of life is worth defending.   In these times of widening challenges, President Trump has powerfully also reminded us that our fight in his words “begins with our minds, our wills, and our souls.”   So let us steel our minds, strengthen our wills, and refresh our souls — for if we do, as our President Trump promised, “the West will never, ever be broken.  Our values will prevail.  Our people will thrive, our civilization will triumph.”   This, then, is our cause.  It is why NATO exists.  It is why Estonia, Latvia, and Lithuania have united with Europe.  And it’s why the United States stands with you — today and always.    The United States is now and will always be your greatest ally and your surest friend.   And I have faith — faith that our alliance will grow stronger and our friendship will deepen because I have faith that we do not walk alone.   In these times of greater challenges, I urge the people of Estonia and the Baltic States, and all who cherish freedom, to have that faith.   For as the Old Book tells us:  “Where the spirit of the Lord is, there is freedom.”   My friends, ours is a shared future — a future of security, a future of prosperity — and ours is a shared future of freedom united in this great “community of nations,” together in the West.   And so today I say with confidence:  With the courage of the people of Estonia, Latvia, and Lithuania; with the partnership of all of our allies; with Armed Forces of the United States of America and with our Commander-in-Chief, President Donald Trump; and with firm reliance on Almighty God; I know the future of freedom in these lands and around the world is brighter than ever before — and we will meet that future together.   Thank you.  God bless you.  God bless Estonia, Lithuania, and Latvia.  And God bless the United States of America.  (Applause.)    END

Remarks by the Vice President with Baltic Leaders in a JPA

Kadriorg Palace Tallinn, Estonia

11:15 A.M. EE EST

THE VICE PRESIDENT:  President Kaljulaid, thank you for your warm welcome and the hospitality you have shown to me and my family.  And to you, to President Vējonis, and, to President Grybauskaitė, it is an honor to be with you today with the leaders of the Baltic States. 

And it’s my great privilege to be here today to bring a very simple message from the President of the United States of America, President Donald Trump. 

President Trump sent me here to:  We are with you.  We stand with the people and nations of Estonia, Latvia, and Lithuania — and we always will.

Next year marks the 100th anniversary of the birth of freedom for all three of your nations, but for most of this past century, you had to fight to reclaim your independence and your sacred birthright of liberty.

The United States proudly stood with you as you labored under Communist occupation.  Through all the decades, we refused to recognize the Baltic States as part of the Soviet Union.

When you raised your voices in the Singing Revolution, we joined the chorus from afar for liberty.  When you joined your hands in the Baltic Way, we reached out from across the world.

And the people of the United States believed, with you, that the Baltic States would one day reclaim your rightful place among the community of free and sovereign nations — and so you did.

Today, you have achieved that goal — and more — by acceding to the European Union and the North Atlantic Treaty Organization.

It’s a particular honor to be here in Estonia with the advent of your presidency of the Council of the European Union.  The United States joined you in your call, in your leadership role in the EU for stronger internal security and external borders, a more robust partnership between the EU and NATO, and increased European defense spending.

And as I told these three Presidents, President Trump and I applaud each of their unwavering commitment to our NATO Alliance. 

Estonia is one of only five nations to meet its obligation to spend a minimum of 2 percent of their gross domestic product on defense; and Latvia and Lithuania, I’m pleased to note, will meet this goal by the end of 2018.

The Baltic States are leading by example but are also contributing mightily to international security.  

You’re members of the Global Campaign to Defeat ISIS, and at this moment I say with gratitude, all three of your nations are participating in NATO’s Resolute Support mission in Afghanistan.  The people of the United States thank you and your people, and we mourn for the 14 Estonian, Latvian, and Lithuanian heroes who have given their lives in the cause of freedom.

In just a few short hours, the four of us will meet with members of the Armed Forces of the United States, Estonia, the United Kingdom, and France — all of whom stand guard in this region through NATO’s Enhanced Forward Presence initiative.

We stand together, here and across the world, because we know that a strong and united NATO is more necessary today than at any point since the collapse of communism a quarter-century ago.  And no threat looms larger in the Baltic States than the specter of aggression from your unpredictable neighbor to the east.

At this very moment, Russia continues to seek to redraw international borders by force, undermine democracies of sovereign nations, and divide the free nations of Europe — one against another.

Under President Donald Trump, the United States of America rejects any attempt to use force, threats, intimidation, or malign influence in the Baltic States or against any of our treaty allies. 

To be clear:  We hope for better days, for better relations with Russia, but recent diplomatic action taken by Moscow will not deter the commitment of the United States of America to our security, the security of our allies, and the security of freedom-loving nations around the world. 

Under President Donald Trump, the United States stands firmly behind our Article 5 pledge of mutual defense, and an attack on one of us is an attack on us all.

President Trump also knows that security is the foundation of our prosperity, and the United States and our Baltic allies, as we discussed today, will continue to seek new and renewed ways to contribute to each other’s prosperity.  Our two-way trade in goods already totals more than $3.5 billion, our combined investment in each other’s economies is nearly $300 million. 

But as the four of us discussed, we have many ways to expand our economic ties, and we’ll pursue them.  Here in Estonia, there is a thriving start-up culture that reminds me of America; and across the region, the opportunities for greater trade and investment are almost too numerous to count.

The President and I were pleased to see a Lithuanian firm’s recent decision to purchase liquefied natural gas from the United States.  And when the first delivery occurs next month, it will benefit not only our prosperity, but it will contribute to regional security and stability.  And I’m confident that this deal will only be the first of many.

Today, the bond between the United States and the Baltic States of Estonia, Latvia, and Lithuania is strong — and under President Trump, and with the leaders gathered here, I know our bond will only grow stronger as time goes on.

Ours is a shared future of security and prosperity, ours is a shared future of freedom, and we will go forth to meet that future — together, as allies and friends always. 

Thank you.

END 11:22 A.M. EE EST

BeyondTrust Reports Strongest Revenue and New Business Bookings Quarter in its History

/EINPresswire.com/ — PHOENIX, AZ–(Marketwired – Jul 31, 2017) – BeyondTrust, the leading cyber security company dedicated to preventing privilege misuse and stopping unauthorized access, today announced the highest revenue quarter in its history with over 40 percent year-over-year revenue growth and over 20 percent adjusted EBITDA margins for the trailing 12 month period. In addition, the company’s PowerBroker Password Safe revenue grew over 45 percent in the same reporting period.

“We’re expanding our global footprint and seeing tremendous success around the globe eliminating data breaches from insider privilege abuse and external hacking attacks,” said Kevin Hickey, president and CEO, BeyondTrust. “While the competition is struggling, we’re seeing phenomenal growth, especially in EMEA where the team achieved record bookings with over 50 percent Q2 growth with no signs of dwindling market demand.”

BeyondTrust delivers what leading industry analysts including KuppingerCole, Forrester, Gartner and Quadrant Research and others consider to be the most complete and integrated privileged access management platform available on the market. The PowerBroker Privileged Access Management Platform is an integrated solution to provide control and visibility over all privileged accounts and users across Windows, Mac, Unix and Linux desktop and server platforms. By uniting best of breed capabilities in a single pane of glass that many alternative providers offer as disjointed tools, the PowerBroker platform simplifies deployments, reduces costs, improves system security and closes gaps to reduce privileged risks. Customers are using PowerBroker today to:

  • Reduce the attack surface by eliminating the sharing of privileged accounts and delegating permissions without exposing credentials
  • Monitor privileged user, session and file activities for unauthorized access and/or changes to key files and directories
  • Analyze asset and user behavior to detect suspect and/or malicious activities of insiders and/or compromised accounts

BeyondTrust’s global client roster includes over 4,000 customers including over half of the Fortune 100, the world’s largest banks, aerospace and defense firms, 7 of the 10 largest pharmaceutical companies and all five branches of the U.S. military and renowned universities across the globe.

“In the first half of 2017, BeyondTrust helped over 200 new customers reduce insider risks and close external security gaps,” said Kevin Hickey, president and CEO at BeyondTrust. “In addition to adding hundreds of new customers, organizations are leveraging the value of the integrated platform to satisfy maturing privilege requirements, enabling BeyondTrust to expand relationships with existing customers.”

About BeyondTrust

BeyondTrust is a global information security software company that helps organizations prevent cyber attacks and unauthorized data access due to privilege abuse. Our solutions give you the visibility to confidently reduce risks and the control to take proactive, informed action against data breach threats. And because threats can come from anywhere, we built a platform that unifies the most effective technologies for addressing both internal and external risk: Privileged Access Management and Vulnerability Management. Our solutions grow with your needs, making sure you maintain control no matter where your company goes. BeyondTrust’s security solutions are trusted by over 4,000 customers worldwide, including half of the Fortune 100. To learn more about BeyondTrust, please visit www.beyondtrust.com.

Follow BeyondTrust

Twitter: http://twitter.com/beyondtrust
Blog: www.beyondtrust.com/blog
LinkedIn: http://www.linkedin.com/companies/beyondtrust
Facebook: http://www.facebook.com/beyondtrust

Global Nano UAV Market 2017 Industry Key Players, Share, Trend, Applications, Segmentation and Forecast to 2022

Nano UAV Market

WiseGuyReports.com adds “Nano UAV Market 2017 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2022”reports to its database.

PUNE, INDIA, July 31, 2017 /EINPresswire.com/ — Nano UAV Market:

Executive Summary

This report studies Nano UAV in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022.

This report focuses on top manufacturers in global market, with production, price, revenue and market share for each manufacturer, covering

AeroVironment
Parrot SA
JJRC Toy
FLIR Unmanned Aerial Systems
Sky Rocket Toys LLC
Syma
Mota Group Inc
Cheerson
Horizon Hobby Inc
Aerix Drones
Hubsan
ARI Robot
Extreme Fliers
Guangdong Cheerson Hobby Technology Co., Ltd
Drona Aviation Pvt. Ltd.
Acumen Robot Intelligence (ARI)

Request Sample Report @ https://www.wiseguyreports.com/sample-request/1650566-global-nano-uav-market-professional-survey-report-2017

By types, the market can be split into

Fixed Wing
Rotary Wing
Others

By Application, the market can be split into

Law Enforcement
Military
Aerial Photography
Others

By Regions, this report covers (we can add the regions/countries as you want)

North America
China
Europe
Southeast Asia
Japan
India

If you have any special requirements, please let us know and we will offer you the report as you want.

For further information on this report, visit – https://www.wiseguyreports.com/enquiry/1650566-global-nano-uav-market-professional-survey-report-2017

Table of Contents

Global Nano UAV Market Professional Survey Report 2017 
1 Industry Overview of Nano UAV 
1.1 Definition and Specifications of Nano UAV 
1.1.1 Definition of Nano UAV 
1.1.2 Specifications of Nano UAV 
1.2 Classification of Nano UAV 
1.2.1 Fixed Wing 
1.2.2 Rotary Wing 
1.2.3 Others 
1.3 Applications of Nano UAV 
1.3.1 Law Enforcement 
1.3.2 Military 
1.3.3 Aerial Photography 
1.3.4 Others 
1.4 Market Segment by Regions 
1.4.1 North America 
1.4.2 China 
1.4.3 Europe 
1.4.4 Southeast Asia 
1.4.5 Japan 
1.4.6 India

2 Manufacturing Cost Structure Analysis of Nano UAV 
2.1 Raw Material and Suppliers 
2.2 Manufacturing Cost Structure Analysis of Nano UAV 
2.3 Manufacturing Process Analysis of Nano UAV 
2.4 Industry Chain Structure of Nano UAV

3 Technical Data and Manufacturing Plants Analysis of Nano UAV 
3.1 Capacity and Commercial Production Date of Global Nano UAV Major Manufacturers in 2016 
3.2 Manufacturing Plants Distribution of Global Nano UAV Major Manufacturers in 2016 
3.3 R&D Status and Technology Source of Global Nano UAV Major Manufacturers in 2016 
3.4 Raw Materials Sources Analysis of Global Nano UAV Major Manufacturers in 2016

4 Global Nano UAV Overall Market Overview 
4.1 2012-2017E Overall Market Analysis 
4.2 Capacity Analysis 
4.2.1 2012-2017E Global Nano UAV Capacity and Growth Rate Analysis 
4.2.2 2016 Nano UAV Capacity Analysis (Company Segment) 
4.3 Sales Analysis 
4.3.1 2012-2017E Global Nano UAV Sales and Growth Rate Analysis 
4.3.2 2016 Nano UAV Sales Analysis (Company Segment) 
4.4 Sales Price Analysis 
4.4.1 2012-2017E Global Nano UAV Sales Price 
4.4.2 2016 Nano UAV Sales Price Analysis (Company Segment)

5 Nano UAV Regional Market Analysis 
5.1 North America Nano UAV Market Analysis 
5.1.1 North America Nano UAV Market Overview 
5.1.2 North America 2012-2017E Nano UAV Local Supply, Import, Export, Local Consumption Analysis 
5.1.3 North America 2012-2017E Nano UAV Sales Price Analysis 
5.1.4 North America 2016 Nano UAV Market Share Analysis 
5.2 China Nano UAV Market Analysis 
5.2.1 China Nano UAV Market Overview 
5.2.2 China 2012-2017E Nano UAV Local Supply, Import, Export, Local Consumption Analysis 
5.2.3 China 2012-2017E Nano UAV Sales Price Analysis 
5.2.4 China 2016 Nano UAV Market Share Analysis 
5.3 Europe Nano UAV Market Analysis 
5.3.1 Europe Nano UAV Market Overview 
5.3.2 Europe 2012-2017E Nano UAV Local Supply, Import, Export, Local Consumption Analysis 
5.3.3 Europe 2012-2017E Nano UAV Sales Price Analysis 
5.3.4 Europe 2016 Nano UAV Market Share Analysis 
5.4 Southeast Asia Nano UAV Market Analysis 
5.4.1 Southeast Asia Nano UAV Market Overview 
5.4.2 Southeast Asia 2012-2017E Nano UAV Local Supply, Import, Export, Local Consumption Analysis 
5.4.3 Southeast Asia 2012-2017E Nano UAV Sales Price Analysis 
5.4.4 Southeast Asia 2016 Nano UAV Market Share Analysis 
5.5 Japan Nano UAV Market Analysis 
5.5.1 Japan Nano UAV Market Overview 
5.5.2 Japan 2012-2017E Nano UAV Local Supply, Import, Export, Local Consumption Analysis 
5.5.3 Japan 2012-2017E Nano UAV Sales Price Analysis 
5.5.4 Japan 2016 Nano UAV Market Share Analysis 
5.6 India Nano UAV Market Analysis 
5.6.1 India Nano UAV Market Overview 
5.6.2 India 2012-2017E Nano UAV Local Supply, Import, Export, Local Consumption Analysis 
5.6.3 India 2012-2017E Nano UAV Sales Price Analysis 
5.6.4 India 2016 Nano UAV Market Share Analysis

6 Global 2012-2017E Nano UAV Segment Market Analysis (by Type) 
6.1 Global 2012-2017E Nano UAV Sales by Type 
6.2 Different Types of Nano UAV Product Interview Price Analysis 
6.3 Different Types of Nano UAV Product Driving Factors Analysis 
6.3.1 Fixed Wing of Nano UAV Growth Driving Factor Analysis 
6.3.2 Rotary Wing of Nano UAV Growth Driving Factor Analysis 
6.3.3 Others of Nano UAV Growth Driving Factor Analysis

7 Global 2012-2017E Nano UAV Segment Market Analysis (by Application) 
7.1 Global 2012-2017E Nano UAV Consumption by Application 
7.2 Different Application of Nano UAV Product Interview Price Analysis 
7.3 Different Application of Nano UAV Product Driving Factors Analysis 
7.3.1 Law Enforcement of Nano UAV Growth Driving Factor Analysis 
7.3.2 Military of Nano UAV Growth Driving Factor Analysis 
7.3.3 Aerial Photography of Nano UAV Growth Driving Factor Analysis 
7.3.4 Others of Nano UAV Growth Driving Factor Analysis

Continued…

Buy this Report @ https://www.wiseguyreports.com/checkout?currency=one_user-USD&report_id=1650566

Norah Trent
WiseGuy Research Consultants Pvt. Ltd.
+1 646 845 9349 / +44 208 133 9349
email us here

Czech Armed Forces acquire Saab RBS 70 NG VSHORAD

Register now at www.airmissiledefence.com

Register now at www.airmissiledefence.com

LONDON, ENGLAND, UNITED KINGDOM, July 31, 2017 /EINPresswire.com/ — The Czech MoD has announced plans to acquire the new Saab RBS 70 NG VSHORAD system within the next three years. In line with this, the ‘Safeguard Temelin 2017’ exercise has demonstrated how the police and Czech Armed Forces collaborated to overcome a hijacked plane from engaging one of its national nuclear power plants. This is a testament to the Czech Republic’s progressive initiative to enhance their air and missile defence capabilities.

With current threats now including conventional and unconventional platforms such as commercially available UAVs, SMi Group’s Air Missile Defence Technology 2017 will feature crucial briefings led by the Czech Armed Forces on all aspects of their air and air missile defence platforms and systems.

As the Czech Republic continues to lead with their enhanced air and missile defence capabilities, five crucial presentations at the conference will showcase the nation’s latest advances in technology and detailed insights into the latest military requirements, including two keynote addresses from the Czech Armed Forces.

Colonel Jaroslaw Ackermann, Chief of the Air Defence Branch, will explore the current risks and threats to the Czech Forces and will discuss strategies and collaboration opportunities with regional partners to defend local air space from incursion.

Colonel Jan Sedliacik, Commander of the 25th Air Defence Regiment, will present on how the armed forces are modernising their air defence capabilities for nationwide cover, including replacing their legacy systems such as the SA=10 by 2020-2022. He will also consider options for C-RAM to protect vital infrastructure and troops.

Other key speakers from the Czech Armed Forces include Colonel Milan Malik, Commander of the 26th Air Command, Control and Surveillance Regiment and Major Jaroslav Sekanina, SME GBAD of the Czech Air Force; and Lieutenant Colonel Jan Farlik, Department of Air Defence Systems, University of Defence.

The event programme will also include senior military briefings from the Polish Air Forces, Hungarian Army, Slovakian Air Force, US Army, French Air Force, US EUCOM and the Royal Netherlands Army; as well as key industry presentations from Weibel Scientific, MBDA, Lockheed Martin and Northrop Grumman.

The full agenda can be viewed on www.airmissiledefence.com/EIN.

For those interested in attending, there is currently an Early Bird discount of £100 for online registrations made by 30 September 2017.

2nd annual Air Missile Defence Technology Conference
October 24 & 25, 2017
Courtyard by Marriott Prague Airport Hotel, Czech Republic
http://www.airmissiledefence.com/EIN

—ENDS—

Contact Information:
For queries on military bookings, contact James Hitchen on jhitchen@smi-online.co.uk. For media enquiries contact Honey de Gracia on hdegracia@smi-online.co.uk.

About SMi Group:

Established since 1993, the SMi Group is a global event-production company that specializes in Business-to-Business Conferences, Workshops, Masterclasses and online Communities. We create and deliver events in the Defence, Security, Energy, Utilities, Finance and Pharmaceutical industries. We pride ourselves on having access to the world’s most forward thinking opinion leaders and visionaries, allowing us to bring our communities together to Learn, Engage, Share and Network. More information can be found at http://www.smi-online.co.uk

Honey de Gracia
SMi Group Ltd
+44 (0)20 7827 6102
email us here

ManTech Selected for U.S. Army Responsive Strategic Sourcing for Services

HERNDON, Va., July 31, 2017 (GLOBE NEWSWIRE) — ManTech International Corporation (Nasdaq:MANT) today announced that the company has been named a prime contractor for the U.S. Army’s Responsive Strategic Sourcing for Services (RS3) program.
“ManTech’s innovative approach to C4ISR is a mainstay of field support and software sustainment programs for globally deployed C4ISR systems,” said Daniel J. Keefe, president and chief operating officer of ManTech’s Mission Solutions & Services Group. “As the leader in C4ISR for RS3, we will continue to provide and sustain advanced technology solutions that give American troops competitive edge on the battlefield.”Under the 10-year contract, ManTech will provide a range of C4ISR services for the U.S. Army: engineering; research, development, test, and evaluation (RDT&E); logistics; acquisition and strategic planning acquisition and strategic planning; and education and training.About ManTech International CorporationManTech provides innovative technologies and solutions for mission-critical national security programs for the intelligence community; the departments of Defense, State, Homeland Security, Health and Human Services, Veteran Affairs and Justice, including the Federal Bureau of Investigation; the health and space community; and other U.S. government customers. ManTech’s four strategic capabilities are: cybersecurity; data and predictive analytics, software and systems engineering; and enterprise information technology.  In addition, ManTech has expertise in C4ISR, program protection and mission assurance, supply chain management and logistics and test and evaluation (T&E). Additional information on ManTech can be found www.mantech.com.ManTech-CMedia Contact:

Sue Cushing, 703-814-8369
Sue.Cushing@ManTech.com

Werner Enterprises Presents The Wall That Heals at Werner Park

OMAHA, Neb., July 31, 2017 (GLOBE NEWSWIRE) — Werner Enterprises (NASDAQ:WERN), a premier transportation and logistics provider, is honored to present The Wall That Heals at Werner Park from Thursday, Aug. 3, through Sunday, Aug. 6.
The opening ceremony will begin on Aug. 3 at 10 a.m. with Governor Pete Ricketts, Omaha Storm Chasers President and General Manager Martie Cordaro and Werner Enterprises President and Chief Executive Officer Derek Leathers as guest speakers. The Wall That Heals, featuring a half-scale replica of the Vietnam Veterans Memorial in Washington, D.C., along with a Mobile Education Center will be open 24 hours a day over the four-day span, and the opening ceremony and event will be free to the public.“Werner encourages everyone in the Omaha metro to visit and pay tribute to those who have sacrificed their lives for our freedom,” said Leathers.The exhibit honors more than three million Americans who served in the U.S. Armed Forces in the Vietnam War and it bears the name of more than 58,000 men and women who made the ultimate sacrifice in pursuit of freedom. Volunteers can sign up to greet the public and help answer questions about the exhibit to show their support and honor those who served.  Werner Enterprises, Inc. was founded in 1956 and is a premier transportation and logistics company, with coverage throughout North America, Asia, Europe, South America, Africa and Australia. Werner maintains its global headquarters in Omaha, Nebraska, and maintains offices in the United States, Canada, Mexico, China and Australia. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated van, temperature-controlled and flatbed; medium-to-long-haul, regional and local van; and expedited services. The Werner Logistics portfolio includes freight management, truck brokerage, intermodal, final mile and international services. International services are provided through Werner’s domestic and global subsidiary companies and include ocean, air and ground transportation; freight forwarding, and customs brokerage.Contact: Fred Thayer, Director of Corporate Communications
Werner Enterprises, Inc.
402.895.6640 ext. 2065
fthayer@werner.com